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More positive on life insurance as a sector because as you rightly said the sector has digested a lot of bad news. There has been a lot of regulatory curbs which has come to the sector. And we think we are well past the point where the bad news are all behind.

The rupee declined slightly by 1 paisa to 83.96 against the US dollar after the Reserve Bank kept interest rates steady. Factors affecting the rupee included weak markets, rising oil prices, and foreign fund outflows.

The stock traded at a P/E multiple of 6.24, while the price-to-book value ratio stood at 1.27.

Ceigall India shares made a modest debut, listing at Rs 419 and later dipping to Rs 404, close to the IPO price of Rs 401. With significant contingent liabilities and competition as challenges, analysts recommend holding with a stop loss of 378. The firm specializes in EPC projects and maintains a strong order book.

A total of 235,846 shares changed hands on the counter till 02:11PM (IST).

Ashwini Kumar Tewari of SBI stated that rural growth is rebounding, supported by better agricultural yields and improved monsoon conditions. He also noted liquidity challenges within the banking sector and the need to focus on stable, retail deposits. SBI is actively implementing strategies to bolster deposit growth and ensure financial stability.

If Canara Bank shares are included in the banking index, the announcement of which is expected later on in the month from NSE Indices, it could lead to passive inflows worth about $45 million in the PSU bank stock.

Promoters consistently increase stake in these 7 stocks, price rise up to 160% in a year

RVNL Q1 Results: State-owned RVNL reported a 35% drop in cons net profit to Rs 224 crore for Q1 June 2024, down from Rs 343 crore in the same quarter last year. Revenue from operations fell 27% to Rs 4,074 crore from Rs 5,572 crore year-over-year. Sequentially, net profit decreased 53% from Rs 478 crore in the March 2024 quarter, while revenue dropped 39% from Rs 6,714 crore.

Mark Mobius indicated that despite some reduction, yen carry trade excesses still persisted in the system. He noted global uncertainty, driven by geopolitical tensions and upcoming US elections. Mobius also highlighted the potential for a US recession due to a decreased money supply. Investors might consider holding cash for future opportunities, with India showing promising growth.